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Oil Edges Lower After Rising on Expanding Middle East Conflict
Brent fell below $106 a barrel as Russia agreed to release more diesel supply and Middle East attacks kept traders wary.
- Oil prices edged lower Tuesday, with Brent trading below US$106 a barrel and West Texas Intermediate near US$93, following three days of gains driven by Middle East supply concerns.
- Houthi attacks on Riyadh's main airport over the weekend killed at least 16 people and wounded about 300, while strikes on tankers in the Strait of Hormuz have escalated sharply.
- Energy Minister Prince Abdulaziz said Saudi Aramco could add 1.2 million barrels a day of export capacity within eight weeks by repurposing gas pipelines, while the kingdom plans a 40% pipeline expansion.
- President Donald Trump's envoys Jared Kushner and Steve Witkoff told Ukrainian officials on Friday that allowing Russian diesel exports is part of efforts to secure an "energy ceasefire" between Kyiv and Moscow.
- While Middle East oil flows recovered in recent weeks, the market remains vulnerable to major disruptions, said Haris Khurshid, chief investment officer at Karobaar Capital, noting supply systems cannot easily handle another shock.
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16 Articles
16 Articles
The oil prices started this Monday’s session in the down Asian markets. Brent, of world reference, decreased 0.83 percent and was sold as much as $103.66 per barrel; its similar U.S. backfired 0.76, to reach 90.99 green bills. Mexican export mix closed Friday at $94.72.
·Mexico
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Oil prices are falling on Monday morning after the rise on Friday.
The price of crude oil continues to rise more than 70% this year, as the conflict in the Middle East disrupts shipments from the Persian Gulf
·Bogota, Colombia
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Brent-type oil fell 1.7% early in the morning, in a possible technical adjustment, after accumulating three highs followed by persistent tensions in the Middle East
Coverage Details
Total News Sources16
Leaning Left1Leaning Right3Center0Last UpdatedBias Distribution75% Right
Bias Distribution
- 75% of the sources lean Right
75% Right
L 25%
R 75%
Factuality
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